Cynergy Bank launches updated business current account with 2.5% AER
Cynergy Bank has launched an enhanced Business Current Account, which offers competitive interest and access to an updated online banking platform.
Cynergy Bank’s updated Business Current Account has been designed to offer the nation’s SMEs a compelling alternative to the traditional banks’ offerings – with a market-leading interest rate of 2.50% AER variable paid on deposits up to and including £25,000, and 0.25% AER variable thereafter. Customers can apply for the Business Current Account via a simple digital application process, and then manage their accounts using Cynergy Bank’s new online banking platform.
The Business Current Account is available to eligible UK businesses, including sole traders, partnerships, limited liability partnerships and limited companies, with up to 10 named individuals including Partners, Directors, and shareholders.
Cynergy Bank is at the forefront of driving innovation and providing tailored financial solutions to its business customers through its growing suite of banking solutions and products. With a focus on delivering an exceptional ‘human digital’ customer experience, Cynergy Bank is disrupting the Mid-Market, supporting scale-up businesses to achieve their growth ambitions.
Cynergy Bank has also introduced one of the UK’s first debit cards made from Parley Ocean Plastic® – a premium material upcycled from marine plastic debris collected from coastal communities worldwide. As part of its dedication to reducing plastic waste, Cynergy Bank has transitioned its Business Current Account debit cards from traditional plastic to this eco-innovative alternative.
The Cynergy Bank Business Current Account complements the bank’s existing range of products designed to serve the complex needs of business customers, including its competitive Business Saver paying 4% AER monthly.
Nick Fahy, chief executive of Cynergy Bank, said: “Cynergy Bank is committed to providing businesses with a high standard of service and product that can be hard to come by. Outdated practices, complex fees, lack of a personal touch, and low in-credit interest rates have long deprived businesses of the treatment they deserve. We’re here to disrupt the norm and empower businesses with fairer, more transparent financial solutions that prioritise their success.”
For a limited time, new Cynergy Bank Business Current Account openings are fee-free for the first 12 months. This covers standard electronic transactions, both domestic and international (in up to seven major currencies).
Additional features include a VISA debit card with contactless payment up to £100, accounts available in three currencies (GBP, EUR, USD) and the ability to pay into accounts at any UK branch of HSBC.